City of Akron looks to buy old downtown apartment building for redevelopment

Akron Mayor Don Plusquellic said the city is in talks to buy the century-old Mayflower Manor apartments under a plan to redevelop the downtown building, which currently is home to low-income residents, should the city receive a federal loan for the project.
Stephanie York, a spokeswoman for Mayor Plusquellic, told Crain's the potential project relies on the city receiving a federal Housing and Urban Development loan for acquisition and redevelopment of the 14-story building, which is owned by Fred Rzepka. If the city reaches a deal with Mr. Rzepka and secures the loan, it would decide how to select a private developer to undertake the job.
Ms. York said potential new uses of the building at 263 S. Main St. could be offices, condominiums or apartments. She said the city would let the market dictate what form the Mayflower's next life might take.
The building started life as the Mayflower Hotel. The hotel played a minor role in the formation of Alcoholics Anonymous in Akron.
To clear the route for a makeover, Mr. Rzepka and the city have agreed to help residents of the 233-unit structure find replacement housing. In a news release, the city said residents of the federally subsidized apartments are either disabled or elderly. Mr. Rzepka owns other properties with federal assistance for low-income residents.
“There is no question that the (Mayflower) needs to be completely redeveloped for it to continue to be useful,” Mayor Plusquellic said.
“For any renovations to occur, the residents, for their own health and safety, should be relocated,” he said. “The noise, dust, and other health and safety concerns that arise with any major renovation make it necessary, I believe, to find safe new facilities for the current residents.”
Mr. Rzepka said in a phone interview Tuesday night, Feb. 26, that the building is safe and cleared a recent U.S. Department of Housing and Urban Development inspection.
“The mayor has other ideas for the building,” Mr. Rzepka said. “My idea is if it can do something good for Akron and satisfy my price, I'm for it.”
Mr. Rzepka refused to disclose his asking price for the building, which his company has owned for 30 years. Mr. Rzepka is president of Transcon Builders Inc. and Owner's Management Co., and is a prolific land, apartment and office developer.